A $100 million issue of Bank of Boston Corp. 10-year subordinated debt was offered through underwriters led by Merrill Lynch & Co.

The 6.875% notes were priced at 99.866 to yield 6.89%, 103 basis points above U.S. Treasuries.

The issue was expected to be rated Baa2 by Moody's Investors Service Inc. and BBB-minus by Standard & Poor's Corp.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.